V ANJAN REDDY Vs. A RAMACHANDRA REDDY

JUDGEMENT

(1.) Under a deed of partnership dated 14-8-1970 (Annexure-A) the petitioners who are the father and son and seven others formed a partnership firm under the firm name called 'International Investment and Finance Corporation' for carrying on the business detailed in clause-3 thereto for a period of five years and, thereafter at will on the terms & conditions stipulated thereto.

(2.) On 7-5-1974 and 1-4-1974 the petitioners in Writ Petitions Nos. 32484 and 32485 of 1982 respectively are stated to have retired from the partnership. O.S. NO. 809 of 1980 filed by one of the partners of the firm for its dissolution in the city civil Court, Bangalore is stated to be still pending.

(3.) But, in respect of various liabilities incurred by the firm or by one of the partners of the firm, several creditors have instituted suits impleading the firm, the petitioners and other partners of the firm as defendants and in some cases, have obtained decrees also. While contesting the suits or the execution proceedings pending against them, the petitioners have moved this Court on 6-9-1982 under Article 226 of the Constitution, challenging the validity of sectior.s 25, 32(2) and 32(3) of the fndian PARTNERSHIP ACT, 1932, 1932 (Central Act No. 9 of 1932) (hereinafter referred to as the Act) and for consequential reliefs.